Opec+ ‘equipped to deal with challenges’ and can cut output if required: Saudi minister – The National
- Date: 23-Aug-2022
- Source: The National
- Sector:Oil & Gas
- Country:Saudi Arabia
Opec+ ‘equipped to deal with challenges’ and can cut output if required: Saudi minister – The National
The Opec+ super group of oil producers is equipped to deal with the challenges in the volatile crude market and can also cut production if required, Saudi Arabia’s energy minister has said.
The 23-member group, which includes Saudi Arabia, the UAE and Russia, has emerged “stronger and more cohesive than ever” amid the “challenging environment”, Prince Abdulaziz bin Salman told Bloomberg in an interview on Monday.
“Opec+ has the commitment … and the means within the existing mechanisms of the Declaration of Co-operation to deal with such challenges and provide guidance including cutting production at any time and in different forms as has been clearly and repeatedly demonstrated in 2020 and 2021.
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